Medigus Ltd. (MDGS)

[Long_shortguy]

$MDGS, DRONEs Baby

Tel Aviv, Israel, Feb. 04, 2022 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle and charging solutions, announced today that it has purchased approximately 40 percent of an Israeli drone technology company with an innovative patented safety system for drones.

This Israeli-drone company has developed a patented drone safety system which is designed to protect people and payloads, providing a solution to reduce the risk of a drone's possible malfunction in an urban environment. Unique in the industry, the system includes a smart parachute that monitors drone flight in real time, identifies critical failures, and autonomously triggers a parachute in the event of an emergency. This innovative solution aims to prevent the loss of drones that malfunction and crash, which potentially could save commercial drone operators millions in losses.

Chief Executive Officer of Medigus, Liron Carmel, commented: “We are thrilled to acquire a large percentage of this company. We believe its technology is a game changer in the industry. This is a very big win for Medigus.”